Trade the News Market Internals Update

***Looking Ahead***

– 11:00 (US) EIA Natural gas Inventories:
– 12:00 (CA) Bank of Canada Senior Dep Gov Macklem
– 21:00 (CH) China May Non-manufacturing PMI: No est v 62.5 prior
– 22:30 (CH) China HSBC Services PMI: No est v 51.6 prior

10:30 AM Market Internals update at 10:30ET

– NYSE volume 190M shares, about 7% below its three-month average; decliners lead advancers by 1.1:1.
– NASDAQ volume 440M shares, about 4% below its three-month average; advancers lead decliners by 1.2:1.
– VIX index -3% at just over 17.00

5:37 AM TradeTheNews.com European Market Update: Japan PM Kan survives no-confidence motion; Spain debt auction received relatively well

***Economic Data***

– (IN) India Primary Articles WPI w/e May 21st Y/Y: 10.9% v 11.6% prior; Food Articles WPI Y/Y: 8.1% v 8.6% prior
– (RU) Russia Gold & Forex Reserve w/e May 27th: $518.3B v $516.8B prior
– (HU) Hungary Mar Final Trade Balance: €839.7M v €831.1M prelim
– (SP) Spain May Net Unemployment Change M/M: -79.7KK v -64.3K prior
– (BR) Brazil May FIPE CPI: 0.3% v 0.4%e
– (UK) May PMI Construction:54.0 v 53.3e v 53.3 prior
– (SA) South Africa May Naamsa Vehicle Sales Y/Y: 6.1% v 8.0% prior

Fixed income:
– (SP) Spain Debt Agency (Tesoro) sold approx €3.95B vs. € 3.0-4.0B indicated Range in 2014 and 2015 Bonds
– Sold €2.75B in 3.4% 2014 Bono; Avg Yield 4.037% v 3.568% prior; Bid-to-cover: 2.49x v 1.79x prior; Bond Maximum Yield set at 4.051%
– Sold €1.2B in 3.0% 2015 Bono; Avg Yield 4.230% v 2.964% prior; Bid-to-cover: 2.90x v 1.7x prior; Bond Maximum Yield set at 4.244%
– (HU) Hungary Debt Agency (AKK) sells total HUF57.5B in 2014, 2017 and 2022 bonds
– (UK) DMO sold £3.5B in 3.75% 2021 Gilts; Avg Yield 3.415% v 3.878% prior; Bid-to-cover: 1.6x v 1.72x prior; Tail: 0.5bps v 0.2bps prior

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